JP Morgan raises its stake in Plus500

JP Morgan raises its stake in Plus500

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The multinational banking and financial services company JP Morgan has raised its stake in the major forex and CFD broker Plus500 (LON:PLUS).

According to the Holdings in Company statement published on the broker’s site, JP Morgan now holds 9% of issued share capital of Plus500, or an aggregate relevant interest in 10 343 694 shares.

As per the share price on November 28, on the London Stock Exchange where Plus500 is traded, JP Morgan has stock worth nearly £62.7 million. According to the same data, currently the broker has a market capitalization of £694.96 million.

JP Morgan, together with Odey Asset Management and Morgan Stanley is among the companies who have more significant stakes in Plus 500. The other major stakeholders are the founders of the company Alon Gonen, Gal Haber, Elad Ben-Izhak, Omer Elazari and Shlomi Weizmann. In September they have sold a combined 13% (15 500 000 shares) of the existing ordinary shares of the company for a total of £100.75 million.

Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS  mobile operating systems. According to Investment Trends report from July 2015,  it is the second largest CFD provider in the UK.

Plus500 is licensed by three other regulators, besides FMA and Israel’s ISA – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC). Recently Plus500 also obtained forex licenses from the Israel Securities Authority and New Zealand’s FMA.

The broker operates in the European Economic Area (EU member states, plus Norway, Lichtenstein and Iceland), Gibraltar, Australia and certain other jurisdictions across Asia, the Middle East and elsewhere. Its subsidiaries include Plus500UK, Plus500AU, Plus500CY and Plus500IL.

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